VN eyes bigger garment, textile export

News - Việt Nam has set to make garment and textile export turnovers of US $15 billion this year, up from US $13.8 billion last year.

Many local enterprises have so far this year signed export contracts for the end of the 2nd quarter of this year.

They have received orders for the whole year from many traditional, according to Mr. Vũ Ðức Giang, Chairman of the Việt Nam Textile and Apparent Association (Vitas) and Chairman of the Việt Nam National Textile and Garment Group (Vinatex).

To achieve the set target, Việt Nam plans to focus on equitizing Vinatex, encouraging local firms to produce more added-value items with their own brand names (increasing their FOB rate to some 50% by 2015 from the current 38%), and calling for more investment in weaving and dyeing areas, said Mr. Giang.